Nominated MP Maina Kamanda was left with an egg on the face after he alleged that the demonetization of the Ksh1,000 was targeting an individual who had over Ksh1 trillion in the house.
Kamanda, who was speaking to a church congregation, was congratulating the CBK governor for the order that is set to take effect on October 1, 2019.
Netizens were not slow in roasting the former Starehe MP for his lack of information on how much money is actually in circulation in the economy.
Some took their time to teach Kamanda on how the economy and liquidity of the money works in the country.
“The currency circulating in Kenya is barely Ksh300B. All our leaders will say anything to blind us. There are no good guys and bad guys in Kenyan politics, just thieves and people who want to be thieves,” exclaimed one Emmanuel Mulayi.
Others questioned the volume of the amount that the former minister was talking about.
“One trillion?! nonsense! Kept in what kind of a room? So one person has almost half Kenya budget hidden in a room somewhere? It does not make sense at all,” noted Sharif Jere.
“How? All money in circulation (of all denominations) is less than Ksh300B?” Muhamed Waliye questioned.
The MP was commenting on the issue where Central Bank governor directed all Kenyans with the old Ksh 1,000 notes to return them to the banks for exchange with the new generation currencies.
The move by CBK was aimed at nabbing Kenyans who are thought to have hoarded bundles of cash in the houses that might have been acquired by illegal means.
